Is it permissible to sell an item one does not yet possess?

Primary text

Selling an item one does not own, with the intention of immediately purchasing it afterward and then delivering it to the buyer, is impermissible. This is the sole transmission reported. This view aligns with that of Al-Shafi'i, and no known dissenter exists regarding this ruling. The evidence is the Hadith where Hakim ibn Hizam asked the Prophet, peace be upon him, if one could facilitate a sale for an item requested by a customer by first buying it from the market and then selling it to the requester. The Prophet responded, 'Do not sell what you do not possess.'